https://www.taxtmi.com/article/detailed?id=11932 Remuneration of LLP partners depends on the LLP agreement's specified entitlements and statutory tax limits. Entitlements stated in the agreement-capital interest, profit sharing, and remuneration (salaries, bonuses, commissions)-are payable as contractually provided, regardless of a partner's activity, but cannot include retrospective payments. The document highlights tiered maximum limits on salary from book profits under tax law and stresses that taxability of partner payments and LLP profits is governed by tax statutes regardless of contractual terms. en-us Mon, 09 Oct 2023 12:39:40 +0530 Sat, 04 Nov 2023 22:02:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11932 Remuneration of LLP partners depends on the LLP agreement's specified entitlements and statutory tax limits. Entitlements stated in the agreement-capital interest, profit sharing, and remuneration (salaries, bonuses, commissions)-are payable as contractually provided, regardless of a partner's activity, but cannot include retrospective payments. The document highlights tiered maximum limits on salary from book profits under tax law and stresses that taxability of partner payments and LLP profits is governed by tax statutes regardless of contractual terms. Articles Corporate Laws / IBC / SEBI Mon, 09 Oct 2023 12:39:40 +0530 https://www.taxtmi.com/article/detailed?id=11932